Debt is often compared to being a double-edged sword. Countries can borrow money to stimulate growth and large internal projects, affording their citizens a better economy to accumulate wealth and a higher quality of living. However, this debt comes with interest, and many countries end up in a vicious cycle of borrowing or printing more money to pay off their debts.
The more money a country borrows, the more it has to pay back in the future. This means future generations will end up having to pay off the interest of debt borrowed in the past, reducing their ability to spend money on things they really need.
